Sage: Where's this double-dip disaster everyone's crying over?

Sage revealed the fragility of the Eurozone economy continues to give management sleepless nights as the recovery it touted didn't show up. Back home in Blighty, though, growth was described as good.

The UK-based accounting software biz pushed up sales two per cent to £661.2m in the six months to 31 March. Pre-tax profits climbed two per cent to £176.1m. In an update covering trade from 1 April to the current period, Sage said sales were pretty much in line with expectations, "despite a toughening economic environment".

"The variable trading performance evident in the first half in Europe continued in the third quarter," said the vendor. "Overall performance in Europe has been flat and the anticipated improvement in growth over the first half has not yet materialised."

Sage bosses' concerns about Blighty sinking into a double-dip recession proved not be very well sage-like, as the company posted some "good growth" in the market.

Further afield, South Africa and Australia spearheaded sales in the vendor's other overseas operations. ®